Texas House Bill HCR67

Texas 2017 - 85th Regular

Caption

Approving the sufficient balance of the economic stabilization fund adopted by the Joint Committee on Economic Stabilization Fund Balance, Select, for the state fiscal biennium beginning September 1, 2017.

Impact

The approval of HCR67 carries significant implications for state fiscal policies and budgetary control. By affirmatively endorsing the specified balance in the economic stabilization fund, the legislature sets a steady financial baseline for the upcoming biennium. This ensures that the state has a buffer against economic fluctuations and unforeseen expenses, which is essential for maintaining fiscal discipline and prioritizing state resources effectively. Furthermore, it underscores the legislative intent to promote financial prudence in managing Texas's economy, providing a clear mandate for the use and allocation of state funds.

Summary

HCR67 is a concurrent resolution that approves the sufficient balance of the constitutional economic stabilization fund for the state of Texas for the fiscal biennium beginning September 1, 2017. The resolution confirms a balance of $7.5 billion established by the Joint Committee on Economic Stabilization Fund Balance, Select. This action indicates the legislature's recognition of the recommended balance that supports budgetary stability and planning within the state government operations. The resolution highlights the committee's role in managing Texas's financial resources effectively and ensuring sufficient reserves for economic activities.

Contention

Although the resolution straightforwardly approves the fund balance, it was not without contention during the legislative process. A motion associated with HCR67 failed to suspend rules, indicating some disagreement or division among legislators regarding the timing or method of such funding approvals. The concerns regarding the economic stabilization fund may reflect broader discussions on state prioritization of funds and the implications of maintaining such a reserve versus allocating funds to other pressing state needs.